The chip shortage is going to get worse before it gets better – this from multiple CEO’s, including John Deere, Flex, Intel, and AMD. Estimates vary – 12 to 18 months seems to be the general thinking.
About 47,000 small tech companies in the UK are suffering significant financial stress after 18 months of Covid-19 disruption, putting 185,000 jobs at risk.The figures, from business rescue and recovery business Begbies Traynor, are for the second quarter of this year and reveal a 41% increase in IT small and medium-sized enterprises (SMEs) in significant financial distress since the first lockdown.
And in a clear sign of the state of the US… average life expectancy dropped significantly in 2020. Quoting NBC News: Between 2018 and 2020, the decrease in average life expectancy at birth in the U.S. was roughly 1.9 years — 8.5 times the average decrease in 16 comparable countries, which was about 2.5 months. The decrease widened the gap between the U.S. and its peers to nearly 5 years, but the difference is much larger among Black and Hispanic Americans.
Although life expectancy is expected to increase in 2021, the pandemic will have lasting financial, mental and physical health consequences that will ripple far beyond 2020.
And, Accenture posted their revenue forecast – up to due digital, cloud, and security services in the shift to hybrid working models.
Why do we care?
Why did I include life expectancy? Because it’s actually a pretty good economic indicator. Healthy economy, healthy people. It’s a trailing indicator, but it’s useful.
I’m cautious about the current state of the market – I think we don’t entirely know how it will look nor how it will respond. There’s a ton of uncertainty – employment, configuration of workplaces, hiring.
That’s not to say there isn’t opportunity – as Accenture shows us. The trick now is not to get over your skiis. Solve customer needs, just know that stability is not assured right now. Those that stay nimble.. can thrive.